Cellumed Completes 10 Billion KRW Capital Increase Payment... "Profit Improvement Through Focus on Core Business"

Cellumed (CEO Insoo Yoo) announced on the 7th that the payment for a 10 billion KRW third-party allotment paid-in capital increase has been completed.

The allottee is the largest shareholder, InscoVida. Previously, Cellumed disclosed on the 29th of last month that it had decided on a third-party allotment paid-in capital increase. The number of shares issued is 5,359,057 common shares at a price of 1,866 KRW per share. The new shares are scheduled to be listed on April 15, and they will be subject to a one-year lock-up period from the distribution date (mandatory holding registration date).

The funds raised through this capital increase will be used for debt repayment and as resources for stable business operations. The company stated, "We expect management stability through the expansion of the largest shareholder's stake and improvement of the financial structure."

Cellumed expects improved performance centered on its bio business. It plans to continuously expand its profitable homologous dermis products into the fields of male and female medicine, and will also focus on sales and profitability growth of dental bone graft materials. Additionally, it is pursuing a high-growth business in the electric two-wheeler sector.

A Cellumed representative said, "We expect the secured funds to provide momentum for mid- to long-term business promotion," adding, "We will strive to secure financial stability and accelerate continuous growth."